Answer:
The answer is "Option a"
Explanation:
The word "customer service" encompasses a broad variety of choices for help, which can be described as follows:
It helps in the interaction with service and quality, that depends on particular area service. It is about a client's view of a firm, that helps they got. It is an essential part of the ongoing development of business. In this service, its percentage rate is 70, that's why other choices were wrong.Business solutions's second-quarter 2018 fixed budget performance report for its computer furniture operations follows. the $159,520 budgeted expenses include $104,720 in variable expenses for desks and $20,800 in variable expenses for chairs, as well as $34,000 fixed expenses. the actual expenses include $35,800 fixed expenses. list fixed and variable expenses separately.
Answer:
Business Solutions
Second-quarter 2018
Fixed Budget Performance Report
Budgeted Actual
Variable expenses for desks $104,720 $104,720*
Variable expenses for chairs, $20,800 $20,800*
Fixed expenses $34,000 $35,800
Total Expenses $159,520 $ 156,320
*Suppose the actual variable expenses are the same as budgeted variable expenses.
Explanation:
The variable expenses depend on the number of units of chairs and desks produced where as the fixed expenses remain constant irrespective of the no of units of production.
Variable expenses are those expenses that vary directly with the number of units produced ( example more desks and more chairs will require more material).
A survey asked people "on what percent of days do you get more than 30 minutes of vigorous exercise" using their responses, we want to estimate the difference in exercise frequency between men and women. we should use a:
Answer:
B
Explanation:
The correct statistical method to estimate the difference in exercise frequency between men and women based on the survey responses is to use a two-sample t-test.
To understand why a two-sample t-test is appropriate, let's consider the nature of the data and the goal of the analysis:
1. Nature of the Data : The survey data consists of responses from people about the percentage of days they get more than 30 minutes of vigorous exercise. This is quantitative data that can be treated as continuous, assuming the percentages are not restricted to a small set of values (e.g., people can report any percentage within a range).
2. Independence of Samples : The data is collected from two independent groups (men and women), which means the responses from one group do not influence the responses from the other group.
3. Comparing Means : The goal is to compare the average exercise frequency between the two groups. The two-sample t-test is specifically designed to compare the means of two independent groups.
4. Assumptions of t-test : The two-sample t-test assumes that the data from both groups are approximately normally distributed or that the sample sizes are large enough for the Central Limit Theorem to apply. It also assumes that the variances of the two groups are equal (homogeneity of variance). If the variances are not equal, a modified version of the t-test, such as Welch's t-test, can be used.
5. Robustness : The t-test is robust to small deviations from its assumptions, making it a reliable choice for many practical situations.
6. Alternatives : If the data is not normally distributed and the sample size is small, non-parametric methods like the Mann-Whitney U test could be considered. However, for the initial analysis, the two-sample t-test is a standard approach.
In summary, the two-sample t-test is the most appropriate statistical method for estimating the difference in exercise frequency between men and women because it is designed to compare the means of two independent groups, and it is robust to deviations from its assumptions. If the assumptions are not met, alternative methods can be considered.
The more illiquid something is the easier it is to turn into cash.
true or false?
Answer:
False
Explanation:
Illiquidity in the context of a business refers to a company that does not have the cash flows necessary to make its required debt payments, although it does not mean the company is without assets.
Big House Nursery Inc. Has issued 20minusyear $1,000 face value, 8% annual coupon bonds, with a yield to maturity of 10%. The current price of the bond is ________.
Answer:
The current price of the bond is $800
Explanation:
The Yield to Maturity (YTM) is the long term yield on a bond. It is the yield that is expected from the bond based on the assumption that if the bond is purchased today and is held to maturity.
The YTM can be calculated as presented in the attachment to the answer.
As we already know the YTM and the other components of YTM formula, we can input these in the formula to calculate the Current Price of the bond.
Current Price of the bond will be,
0.1 = 80 + [(1000 - P) / 20] / [(1000 + P) / 2]
0.1 = 80 + [50 - 0.05P] / [500 + 0.5P]
0.1 * (500 + 0.5P) = 80 + 50 - 0.05P
50 + 0.05P = 130 - 0.05P
0.05P + 0.05P = 130 - 50
0.1P = 80
P = 80 / 0.1
P = $800
P = $800
The Limberger Corporation declared a quarterly dividend of $0.10 per share. The ex-dividend date was July 15, the date of record was July 18, and the payment date was July 28. If you had owned 100 shares of the Limberger Corporation and sold them on July 15, then
A) you would collect $10.00 in dividends, and the purchaser would not collect any dividends.
B) the purchaser would collect $10.00 in dividends, and you would not collect any dividends.
C) you would collect $5.00 in dividends, and the purchaser would collect $5.00 in dividends.
D) neither you nor the purchaser would collect any money in dividends.
A stadium makes $1,000,000 in revenue from a recent event. Due to its smaller size, the neighboring arena is expected to make 46% of what the stadium makes in revenue. How much revenue is the arena expected to make?
Answer: $460,000
Explanation:
A stadium makes $1,000,000 in revenue from a recent event and the neighboring arena will make 46% of what the stadium makes in revenue.
This means the neighboring arena will make 46% of $1,000,000. This can be expressed as:
46% of $1,000,000
= 46/100 × 1,000,000
= $460,000
The neighboring arena will make $460,000.
A new technique for extracting oil and gas—called "fracking"—spurred an economic boom in the formerly sleepy town of Oilville, located in what had been thought to be a depleted oil field. Workers swarmed into the town, and Karen started a laundry service to meet their needs. In this case, Karen had spotted an entrepreneurial opportunity created by the new extraction technique, or a ___________________, which in turn created an oil boom, or a(n) __________________.
Answer: technological discovery; economic dislocation
Explanation:
In the scenario described, Karen had spotted an entrepreneurial opportunity that was created by the new extraction technique, or a technological discovery. When there's a technological discovery, there will be new opportunities for people.
The technological discovery created an oil boom or an economic dislocation. When there's a change in economic conditions as a result of displacement of some workers, we say the affected people have been dislocated from the affected economy, in terms of employment.
Whats the difference between stock and stockholder?
To delve into the underlying meaning of the terms, "stockholder" technically means the holder of stock, which can be construed as inventory, rather than shares. Conversely, "shareholder" means the holder of a share, which can only mean an equity share in a business. Thus, if you want to be picky, "shareholder" may be the more technically accurate term, since it only refers to company ownership.
If a nation is going to achieve and sustain a high rate of economic growth, it must
1 prohibit low-wage foreign producers from supplying goods to the domestic market.
2 have an abundant domestic supply of low cost energy resources.
3 have a mechanism capable of attracting savings and channeling them into wealth-creating projects.
4 impose regulations that will limit the intensity of competition among domestic firms.
Answer:
I think the answer is 3.
Explanation:
For a high economy, a nation must have wealth (well there are other factors too) and for wealth it must have a mechanism for attracting savings and channeling the for money and slowly slowly the economy will start growing.
PackMan Corporation has semiannual bonds outstanding with nine years to maturity and the bonds are currently priced at $754.08. If the bonds have a coupon rate of 7.25 percent, what is the after-tax cost of debt for PackMan if its marginal tax rate is 30 percent? Round your intermediate calculation to two decimal places & final percentage answer to three decimal places.
Answer:
b. 8.225%
Explanation:
The rate formula will be used to solve this question.
Please note that the NPER represents the time value.
Where;
Present value is $754.08
Let's assume that the face value is $1,000
PMT= 1,000 x 7.25% ÷2
=$36.25
NPER= 9 years x 2
= 18 years
The formulae is therefore
Rate(NPER,PMT,-,PV,FV)
The value of the present value is negative.
a. The pretax would therefore be 11.75%
b. After tax cost of debt would be ;
Pretax cost of debt x (1 - tax rate)
11.75% x (1 - 30%)
11.75% x (1 - 0.03)
=8.225%.
Madrid Company plans to issue 9% bonds with a par value of $4,200,000. The company sells $3,780,000 of the bonds at par on January 1. The remaining $420,000 sells at par on July 1. The bonds pay interest semiannually on June 30 and December 31. 1. Record the entry for the first interest payment on June 30. 2. Record the entry for the July 1 cash sale of bonds.
Answer:
Journal entries is seen below
1. Interest payment expenses $170,100
To cash $170,100
2. Cash $420,000
To bond payable $420,000
Explanation:
Journal entries with explanations.
1. Interest expenses $170,100
To cash $170,100
(It is recorded being the first interest payment)
The working is as seen below;
= $3,780,000 x 9% x 6 months ÷ 12 months
= $170,100
As per the recording, the interest expense was debited because it increased the expenses while cash is paid which reduced the cash balance hence credited.
2. Cash $ 420,000
To bond payable $420,000
(Being the cash sale of bond that is recorded.)
For the recording, cash was debited as it was received because it increased the cash balance and also credited to bond payable account.
Field Farms and Gourmet Restaurant enter into a contract for a sale of produce. After Field Farms ships the lettuce but before the restaurant receives it, the buyer declares bankruptcy. The seller can stop delivery of the goods in transit:
a. only if the quantity is at least a carload.b. only if the quantity is at least a planeload.c. only if the quantity is at least a truckload.d. regardless of the quantity.
Answer: D.) Regardless of the quantity.
Explanation: Declaration of bankruptcy is usually triggered by an organization or company in debt, declaring bankruptcy involves a legal process whereby the organization in question is examined and researched by evaluating it's liabilities and assets, so that they can seek relief from their debt. Once the buyer, gourmet declares bankruptcy, the contract between both companies can be terminated in transit regardless of the quantity of goods demanded, this is because gourmet declaring bankruptcy means the company will almost certainly be unable to pay for the demanded goods.
Under UCC Section 2-705, a seller has the right to stop delivery of goods in transit if the buyer becomes insolvent, d) regardless of the quantity being shipped. This protects the seller's interests if the buyer cannot pay.
This question pertains to the legal provisions related to stopping delivery of goods in transit when a buyer declares bankruptcy. Under the Uniform Commercial Code (UCC) Section 2-705, a seller may stop delivery of goods in transit if the buyer becomes insolvent. This right to stop delivery applies regardless of the quantity of goods being shipped, meaning that the seller can exercise this right without consideration to whether the shipment is a carload, planeload, or truckload.
Therefore, the correct answer is:
d. regardless of the quantity.
This ensures that sellers have the ability to protect their interests when the buyer cannot fulfill their financial obligations.Let's also review the relevant concepts:
Insolvency: When a buyer is unable to pay their debts as they come due.Uniform Commercial Code (UCC): A set of laws that provide legal guidelines regarding commercial transactions in the United States, including the sale of goods.Steven and Emily Campbell are planning to open a casual dining restaurant in downtown Akron, Ohio, and need $125,000 to get started. They have $50,000 of their own money, which leaves $75,000. After getting turned down by a couple of banks, they decided to turn to their relatives and acquaintances for help. Fortunately, they were able to raise the money through a gift from Steven's grandfather, a loan from Emily's parents, and a small investment by Steven's best friend in college, Doug. The money that an entrepreneur raises in this manner is referred to as ________.
Answer:
3Fs (Friends , families and fools)
Explanation:
One of the sources of raising capital for small scale business is through the families , friends and fools
The families and friends are always willing to help to the best of their capacity if the need arises , and as such , they are seen as a reliable way of obtaining capital for business , most especially when other sources fail.
The fools explains the high risk involved in being part of an early stage of a business most especially when adequate security against loans and liabilities are not available.
ABC Company raised its cash dividend from 18 cents to 19 1/2 cents and also declared a 5% stock dividend. The record date of the cash dividend is Thursday, May 20 and the record date of the stock dividend is Wednesday, May 12. An investor buys 1,000 shares of ABC regular way on Wednesday, May 12. The customer will receive a cash dividend of__________.
Answer:
lets be friends
Explanation:
why? because im awesome
Why is there no federal agency that regulates insurance companies?
Answer:
There is no federal regulatory agency that oversees insurance companies. A primary function of each state's Department of Insurance is to assure that insurance companies operating in the state are financially sound, so that the company will have the financial ability to meet its obligations to pay claims.
Title insurance protects against future problems with your home's title, including claims from previous owners, unpaid liens or clerical errors. True or false
Answer: True
Explanation:
Most insurance covers or possibly all cover for mostly your future business, especially from the day they started the business with you or the organization. Title insurance covers against your future issues, unpaid liens and clerical errors.
Shipp, inc. manufactures a product requiring two pounds of direct material. during 2016, shipp purchases 24,000 pounds of material for $99,200 when the standard price per pound is $4. during 2016, shipp uses 22,000 pounds to make 12,000 products. the standard direct material cost per unit of finished product is
Answer: $8
Explanation:
Required amount of Raw material for each unit of the product = 2 pounds
Therefore, for 12,000 units of product,
raw material required equals :
12,000 × 2 = 24,000 pounds
Standard price per pound equals $4
Therefore, Standard cost of 24,000 pounds of material equals :
24,000 × $4 = $96,000
Cost per unit equals :
(Total cost ÷ Number of Units)
$96,000 ÷ 12,000 = $8
Therefore, the standard direct material cost per unit of finished product is $8
Match the items below to show the risks, benefits, and powers of stockholders. A. Risk of being a stockholder B. The benefit of being a stockholder C. Power of a stockholder Stockholders aren't guaranteed a return on their investment Stockholders receive dividends when the company makes a profit Stockholders can sell their shares in the company at any time
Question:
Match the items below to show the risks, benefits, and powers of stockholders.
A. Risk of being a stockholder
B. The benefit of being a stockholder C. Power of a stockholder
1. Stockholders aren't guaranteed a return on their investment.
2. Stockholders receive dividends when the company makes a profit
3. Stockholders can sell their shares in the company at any time
Answer:
A. Risk of being a stockholder : 1. Stockholders aren't guaranteed a return on their investment.
B. The benefit of being a stockholder: 2. Stockholders receive dividends when the company makes a profit
C. Power of a stockholder: 3. Stockholders can sell their shares in the company at any time
Explanation:
A stockholder is a person that can also be referred to as a shareholder in a company or a firm that is private or public.
Stockholder or shareholder is a person that owns by legal rights the stocks present in a company's shares.
Stockholders benefit from the companies that they have shares in when ever the dividends from the company's profit are made public by the company. They also have the right to vote about who sits on a company's board. Stockholders can sell their shares in a company anytime they want.
One of the risks associated with been a stockholder is that a return on your investment by the company you own shares in cannot be guaranteed.
Answer:
Risk of being a stockholder: Stockholders aren't guaranteed a return on their investment
Benefit of being a stockholder: Stockholders receive dividends when the company makes a profit
Power of a stockholder: Stockholders can sell their shares in the company at any time
verified on a p e x
Brady corp. is considering the purchase of a piece of equipment that costs $20,000. projected net annual cash flows over the project's life are: year net annual cash flow 1 $ 3,000 2 8,000 3 15,000 4 9,000 the cash payback period is select one:
a. 2.29 years.
b. 2.60 years.
c. 2.40 years.
d. 2.31 years.
Answer:
B
Explanation:
Payback period is the total time it takes an organization to recover the initial capital incurred in acquiring an asset.
It is expressed in years and fraction of years.
Initial investment 20,000
Year 1 3000 17000
Year 2 8000 9000
Year 3 15,000
9000/15000= 0.6 years
The payback period = 2.6 years
The cash payback period is 2.60 years.
The calculation is as follows:Net annual cash flow till year 2 = $3,000 + $8,000
= $11,000
Now the investment collected is
= $20,000 - $11,000
= $9,000
Now the cash payback period is
= 2 years + $9,000 ÷ $15,000
= 2 years + 0.6
= 2.60 years
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Hanson Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $1,800,000 on March 1, $1,200,000 on June 1, and $3,000,000 on December 31. Hanson Company borrowed $1,000,000 on March 1 on a 5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 10%, 5-year, $2,000,000 note payable and an 11%, 4-year, $3,500,000 note payable. Compute the weighted-average interest rate used for interest capitalization purposes. (Round answer to 2 decimal places, e.g. 7.58%.)
The weighted-average interest rate used for interest capitalization purposes is 4.31%.
Explanation:To compute the weighted-average interest rate used for interest capitalization purposes, we need to calculate the weighted-average interest rate on the outstanding notes payable. Here is the calculation:
Calculate the interest expense on each note payable by multiplying the outstanding balance by the interest rate. For the 10% note, the interest expense is ($2,000,000 × 10%) = $200,000. For the 11% note, the interest expense is ($3,500,000 × 11%) = $385,000. Calculate the weighted-average interest expense by multiplying the interest expense of each note by the proportion of the note to the total outstanding balance. The total outstanding balance is ($2,000,000 + $3,500,000) = $5,500,000. For the 10% note, the proportion is ($2,000,000 / $5,500,000) = 0.3636. For the 11% note, the proportion is ($3,500,000 / $5,500,000) = 0.6364. The weighted-average interest expense is (0.3636 × $200,000) + (0.6364 × $385,000) = $237,727. Calculate the weighted-average interest rate by dividing the weighted-average interest expense by the total outstanding balance. The weighted-average interest rate is ($237,727 / $5,500,000) = 0.0431 or 4.31%.
Hayes Corporation has $300 million of common equity on its balance sheet and 6 million shares of common stock outstanding. The company's Market Value Added (MVA) is $162 million. What is the company's stock price?
Answer: $77
Explanation:
Given the following;
Total Book value of common equity = $300,000,000
Total outstanding shares = 6,000,000
Market Value Added (MVA) = $162,000,000
Stock price =( Market value of equity + Total Book value of equity) ÷ Number of outstanding shares
Stock price = ($162,000,000 + $300,000,000) ÷ 6,000,000
Stock price = $462,000,000 ÷ 6,000,000
Stock price = $77
Company's stock price is $77
true or false: Qualitative data represents the motivations or the ""whys"" behind much of the data that can be counted with numbers
Answer:
True
Explanation:
The reason is that the qualitative data is not a quantifiable data and it includes the whys which helps in understanding and individual opinion forming. The qualitative data can be counted and this counting increases the reliability of the data which means the conclusion drawn are more realistic in nature.
True, qualitative data is used to capture the motivations and 'whys' behind human behavior, providing in-depth understanding that numbers cannot express.
True: Qualitative data represents a type of information that is expressed in words rather than numbers. This data is crucial for understanding the motivations, thoughts, and emotions—the 'whys'—behind human behaviors and choices which can't be fully quantified. Qualitative data encompasses a wide range of non-numeric information such as personal experiences, feelings, and cultural practices, providing depth and context to the subjects being studied.
Qualitative data often comes from methods like interviews, observations, and focus groups. It can include descriptions of people's lifestyles, behaviors, or viewpoints, and provides insights into phenomena that need more detailed exploration than what mere numbers can convey. This includes aspects like hair color, emotions, or the reasoning behind certain actions within a cultural sociology study.
Researchers might prefer quantitative data for its ease of mathematical analysis; however, qualitative data adds essential narrative and substance when researchers wish to delve into people's reasons for acting a certain way that can't necessarily be measured. It's valuable in diverse fields of study, from cultural sociology to market research, since it offers perspectives on internal thought processes and personal experiences that numeric data alone cannot offer.
Under its executive stock option plan, N Corporation granted options on January 1, 2021, that permit executives to purchase 11.0 million of the company's $1 par common shares within the next eight years, but not before December 31, 2023 (the vesting date). The exercise price is the market price of the shares on the date of grant, $19 per share. The fair value of the options, estimated by an appropriate option pricing model, is $5 per option. No forfeitures are anticipated. Ignoring taxes, what is the effect on earnings in the year after the options are granted to executives?
Answer:
$13,199,199.99
Explanation:
Number of options = 11 million
Fair value per option = $4
Total Compensation = 11,000, 000 × $4 = $44,000,000
Vesting period = December 31, 2023 - January 1, 2021 = 3 years
Compensation expense per year during Vesting period :
$44,000,000 ÷ 3 = $1,466,667
Adjusted cumulative amount of compensation expense recorded after option was granted to executive :
2022:
($44,000,000 × (2/3) × 95%) - $14,666,666.67
$27,866,666.67 - $14,666,666.67
= $13,199,199.99
How many members sit congress
Answer:
535 members of Congress.
Explanation:
100 serve in the U.S. Senate 435 serve in the U.S. House of Representatives.
I hope this is right sorry if I am not
Monetary neutrality is the idea that money is neutral in the –. it is a means of exchanging, tracking, and storing value, but is not a – of value. an economy does not become inherently more or less – by virtue of a change in the amount of money in circulation. real productivity depends on resources, technology, and –.
Answer:
Monetary neutrality is the idea that money is neutral in the long run. It is a means of exchanging, tracking, and storing value, but is not a source of value. An economy does not become inherently more or less productive by virtue of a change in the amount of money in circulation. Real productivity depends on resources, technology,and institutions.
Explanation:
Money Neutrality is a term that connotes the fact that real values, not nominal values are affected when there is a change in money supply. The term explains the fact that money is a neutral item, which does not affect the structure of a economy.
So if the central bank decides to print more money and supply it to people, there would simply be an increase in demand as well as the prices of goods and services. However, fundamental aspects of the economy, would remain unaffected by this. Some of these basic aspects of the economy, are working knowledge and skills, unemployment levels or the presence of investors.
Suggestion boxes are a good idea, but if they are used, ________.
a. each suggestion should be logged into a database available to all employees
b. employees should be adequately rewarded for every idea they submit that is implemented
c. managers should explain why suggestions are feasible or not
d. no anonymous suggestions should be accepted
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Which of the following will cause a decrease in quantity supplied in the cupcake market?
A Price of cupcakes increase.
B Cost of ingredients for cupcakes rises.
C People decide they prefer cakes to cupcakes.
D Government passes new nutritional labeling regulation for cupcakes.
Answer: B
Explanation:
Decrease in quantity supplied occurs when the supply chain of a market is interrupted.
Looking at the answers:
A. price of cupcakes increase - this will not decrease quantity supplied, this will raise the price and decrease demand.
B. cost of ingredients for cupcakes rises - this will decrease quantity supplied. Producers of cupcakes cannot make as many cupcakes as they had in the past at the same cost due to materials being more expensive.
C. prefer cakes to cupcakes - this will decrease demand, not quantity supplied.
D. nutritional labeling regulation for cupcakes - this is irrelevant.
The cost of ingredients for cupcakes rises will cause a decrease in the quantity supplied in the cupcake market. The correct option is B.
What is the quantity supplied on a supply curve?The quantity of an item or service that is supplied, with all other factors remaining the same, is the amount that vendors are willing to sell at a specific price during a specific time. Generally speaking, receiving a higher price causes sellers to increase their supply while also increasing their earnings.
An increase in the cost of ingredients needed to produce cupcakes would increase the cost of producing cupcakes and thus reduce the profit margins of cupcake producers. In response to lower profits, producers would reduce the quantity supplied of cupcakes in the market to ensure that they remain profitable.
Therefore, an increase in the cost of ingredients would cause a decrease in the quantity supplied of cupcakes in the market. The other options listed (A, C, and D) are more likely to affect demand for cupcakes rather than the quantity supplied.
Thus, the ideal selection is option B.
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The Information Security __________ is a managerial model provided by an industry working group, National Cyber Security Partnership, which provides guidance in the development and implementation of organizational InfoSec structures and recommends the responsibilities that various members should have in an organization.
Complete/Correct Question:
The Information Security __________ is a managerial model provided by an industry working group, National Cyber Security Partnership, which provides guidance in the development and implementation of organizational InfoSec structures and recommends the responsibilities that various members should have in an organization.
a. Governance Framework
b. Security Blueprint
c. Risk Model
d. Compliance Architecture
Answer:
A, governance framework
Explanation:
A governance framework can be defined as the structure of a government as it reflects the interrelated relationships, factors as well as other things.
It can be simply defined as the structure of an organization's governance. Governance framework also shows rules that explain or underline how an organization is run, controlled, etc.
Governance framework are built by accountability, integrity, effeciency, etc.
Cheers.
Which of the following is not a component included in a standard business plan? a. implementation plan b. organization plan c. market analysis d. credit analysis Please select the best answer from the choices provided A B C D
Answer:
Its D
Explanation:
Any standard business plan never includes the analysis of the credits of the organization.
What is a business plan?A plan that involves laying off strategies and their implementation for the achievement of organizational goals is known as a business plan. It is a continuous process.
At the core of any business plan, credit strategies and building the capital of the business around a credit facility will never be included.
Hence, option D holds true of a business plan.
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If I have the only telephone in town, it is essentially worthless. Then other people in town get telephones and I can call them. The value of my telephone rises as more and more of the town installs phones. This makes the telephone a(n) __________ good.
Answer:
Explanation:
The value of my telephone rises as more and more of the town installs phones. This makes the telephone a network good.
What is a network good?A term used in economics to characterize this relationship between demand for a product and demand from other consumers is network externality. In other words, the purchase habits of customers are influenced by what others buy.
The secret to the sharing and collaborative economy is network effects. When a product or service becomes more valuable as more people use it, this phenomenon is known as the network effect.
The spread of sharing and collaboration models, made possible by the internet's international reach, is largely due to this phenomenon.
An economic network is a collection of people, organizations, or nations that collaborate to further the common good. In an economic network, a group's main objective is to improve its position in a market.
By expanding your client base, market share, and the overall value proposition of your product, network effects help you scale your firm and enhance profitability. A network effect is when your product's value rises as more people use it, if you're wondering what that is.
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